Maruti Suzuki hikes prices: After petrol, diesel and CNG, now the car ride is also going to be expensive for you. Country’s largest automobile company Maruti Suzuki has informed stock exchanges that it is ready to increase the prices of vehicles by the end of this month.
The decision to increase the prices has been taken in view of the increase in cost.
The company said the increase in input cost has had a significant impact on the cost of vehicles. According to the company, it plans to increase the prices by the end of this month. The price hike will depend on the model of the vehicle.
Prices increased 4 times in a year
Maruti Suzuki has increased the prices of vehicles four times in the last one year. The company has increased the prices of its vehicles by about 9 per cent in the last one year due to the sharp jump in commodity prices.
Margin effect due to increase in cost
Input cost is very important for any car manufacturer. The material cost is 70 to 75 per cent of the total cost for any original equipment manufacturer, but for Maruti Suzuki it has increased to 80.5 per cent. This has also affected the margins of the company. This is the reason why Maruti Suzuki has decided to increase the price.